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FX.co ★ Wave analysis of the USD / JPY currency pair for December 26, 2017

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Forex Analysis:::2017-12-27T09:32:24

Wave analysis of the USD / JPY currency pair for December 26, 2017

Wave analysis of the USD / JPY currency pair for December 26, 2017

Analysis of wave counting:

During the last day trading session last week, the USD / JPY pair remained practically immobilized, with a maximum amplitude of price changes of less than 20 bp. At the same time, it can be assumed that the currency pair is still in the formation stage in wave c, in b, in b, and in (C) that are not yet completed. There is a probability that allows the currency pair to resume the decline of quotations and significantly complicate the internal wave structure of wave b, in b, in b, in (C), or even confirm the beginning of the formation of future wave c, in b, in (C).

Targets for a downward wave option:

111.89 - 38.2% by Fibonacci

111.02 - 50.0% of Fibonacci

Goals for the option with an upward wave:

113.59 - 161.8% Fibonacci retracement

113.88 - 11.4% by Fibonacci

General conclusions and trading recommendations:

The tool continues to build the upward section of the trend. The increase in quotations may continue with targets near the mark of 113.59 and 113.88, which corresponds to 161.8% and 11.4% of Fibonacci, within the limits of wave c, in b, in b, in (C). This wave can take a very long form. Also, the probability of complicating the entire wave marking of the instrument and making adjustments are sustained.
Analyst InstaForex
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